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Voluntary Life Insurance

Despite the fact that group life insurance is among the most frequently offered employee benefits in the U.S., 30% of full-time employees are not covered by a group life plan. Of even greater concern is that more than half of these individuals currently have no type of life insurance¹.

Standard Features:

• Flexible plan designs to meet individual needs
• Guaranteed coverage for all employees
• Available to employers with 10 or more employees
• Make payments through convenient payroll deduction
• Individual purchase rights give a terminated employee the opportunity to convert his or her coverage (and spouse and child coverage if elected) to an individual life insurance policy, allowing for continued coverage

Optional Features:

• Accidental Death and Dismemberment (AD&D) coverage² provides an enhanced benefit in the case of accidental death or dismemberment.
• Dependent life insurance can be purchased by your employees to cover the loss of a spouse or child.
• Accelerated benefits provide a way to help a terminally ill employee maintain health, financial, or personal needs before death.
• Flexible Waiver of Premium options allow coverage to continue and premiums to be waived if an employee qualifies under this provision.
• Portability allows employees to continue coverage if their employment ceases.
• Free online access to Will Preparation Services allows employees and their spouses to create a will, living will, healthcare power of attorney and financial power of attorney. Identity Theft Prevention and Action kits are also part of the service.³

For more information:

• Contact your local representative of Principal Life
• Log in now to access your specific accounts

¹LIMRA International, Group Life Insurance: Factors Affecting Industry Prospects, 2006

²In some states, certain provisions listed as AD&D may be paid as a Personal Loss Benefit.

³The use of the services provided by ARAG® Services, LLC should not be considered as a substitute for consultation with an attorney. Principal Life Insurance Company is not responsible for any loss, injury, claim, liability, or damages related to the use of the ARAG legal document service. Louisiana residents are not able to create a will through this service.

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